France Telecom is in early negotiations to acquire a minority stake in Cambodian telecommunications operator Mobitel and is continuing talks to acquire a stake in Iraqi operator Korek, as the group seeks to expand its presence in emerging markets, CEO Stephane Richard said according to Dow Jones. Richard, who talked to reporters on the sidelines of a press conference in Paris, said the work on Korek continues, noting that there is no concrete timeframe but they have been talking for a while now and hope to conclude talks in the coming weeks. Richard said France Telecom is hoping to enter Iraq with a partner, which he declined to name. It's a financial partner with logistic operations with which they operate already elsewhere. Talks on Cambodia are less advanced, Richard said, adding that entering Cambodia would allow the group to set foot in an additional emerging market. France Telecom is also monitoring the situation in Algeria, which it still considers an attractive country to expand into. The group would be interested in investing there but there currently isn't any concrete project and the group isn't holding any talks with anyone, Richard said.
